These papers describe the static model of consumption-leisure choice in which both the maximization of utility and the maximization of precautionary savings for sequential purchases are constrained by the equality of the marginal costs of search to their marginal benefits.

About Sergey Malakhov

These papers describe the static model of consumption-leisure choice in which both the maximization of utility and the maximization of precautionary savings for sequential purchases are constrained by the equality of the marginal costs of search to their marginal benefits.